Diversity & inclusion plays ‘crucial role’ in insurance sector’s business resilience

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Mental health, gender equality, flexible working patterns, and culture & ethnicity were ranked as top issues to address within and insurance at Dive In

Research from Dive In highlights the urgent need for companies to give diversity and inclusion (D&I) their full attention, especially in times of crisis.

This is according to a survey was conducted from more than 12,000 registered attendees across more than 30 countries in the run up to this year’s festival for D&I in insurance, Dive In.

Ninety-seven percent of respondents agreed that D&I plays a crucial role in building resilience to help overcome the many challenges businesses face.

And almost all agree that the pandemic has highlighted an even greater need for business to focus on building inclusive workplaces.

Commenting on these findings, Jason Groves, chair of the Dive In Committee; and global director of media relations at Marsh: “The research is clear. D&I is not just good for business, it’s essential. Now, more than ever, D&I has to be integral to an organisation’s business strategy.”

Attendees were also asked to identify the most pertinent areas the insurance industry needs to focus on as a result of new ways of working.

Meanwhile, mental health was ranked as the number one concern (44%), followed by gender equality (43%), flexible working patterns (41%) and lastly culture and ethnicity (34%).

Global differences

Yet the results also highlighted differences across the globe. Attendees in Latin America called for gender equality to be at the top of the insurance industry’s D&I agenda. While both the UK and the Americas named culture and ethnicity as a key area which needs addressing, amidst the ongoing Black Lives Matter protests dominating many cities around the world.

This year’s festival theme of ’authenticity and perspective’ asks festival go-ers to reflect on the aspects of diversity and inclusion that enable us to bring our whole selves and our unique experiences to bear on shared challenges.

Day Bishop, director, insurance consulting and technology at Willis Towers Watson, added: “Our ambition with Dive In has always been to reach outside the echo chamber and speak to those who may not be as familiar with the value of D&I.

”The staggering numbers of participants who have never attended before shows we have overcome this barrier, while also demonstrating a desire across the market to learn more and make a positive change.”